Asaadx2

Asaadx2 Updated 

This is the bearish case for S&P500. There is a bullish case which I'll publish later. The rally since the bottom on 22nd March can be counted up to this point as a double zigzag WXY as shown in this chart. The second zigzag of this double zigzag has followed the purple pitchfork nicely and has been tagging along its median line, and its C wave can be counted...

Asaadx2 Updated 

The recent decline in this pair can possibly be counted as the completion of an ending diagonal for wave C (purple) of a flat correction for wave B (blue) of a zigzag. Following such a structure it would be expected to have a strong rally in wave C (blue) that would usually take the high at wave A and go higher than 2.01. I note the multiple bullish RSI...

Asaadx2 Updated 

This is the bearish case for S&P500. It counts a double zigzag WXY from the bottom on 22nd March. Going through the subwaves on lower timeframes it is possible to count wave c of the second zigzag as complete like this: Note how price hit the purple median line and reacted to it, and how it has also broken the blue pitchfork lower parallel and then hit the...

Asaadx2

As warned in the previous post price may continue in a complex correction before resuming its impulsive behaviour. At this point we still have multiple scenarios in the short term both bullish and bearish. Bearish scenario: 1- We may be near the end of a double zigzag correction as shown here. What would be expected in this case is for price to reverse sharply...

Asaadx2

The rally yesterday can be counted as WXY as explained in the previous posts. Y was 0.618 of W which is common when X is a triangle. The whole rally ended between 0.618 and 0.786 of the previous move. The decline has taken the orthodox end of triangle X. If this count is correct price should decline sharply from here. Initial target is the median line of the...

Asaadx2 Updated 

Note break of lower parallel of the well-validated blue pitchfork after multiple bearish divergences, indicating the first leg up is over at the 50% retracement. This can be counted as a zigzag. A low-risk short trade is possible here with a stop just above the recent high at wave C. Need to watch the orange pitchfork and lower our stop loss along its upper...

Asaadx2 Updated 

Price has been following these pitchfork nicely on the small time frames. Reaction to the warning lines of the red pitchfork and well contained within the blue one. Expecting more decline as the internal wave count on 5 min and 1 min so far doesn't appear to be complete for a full wave down

Asaadx2

From its recent bottom, SPX rose in 3 waves so far. Counting it as ABC we have A = C, a very common relationship in zigzags. The assumed zigzag stopped at the 0.786 retracement of the second leg of the decline. Wave C is countable as a diagonal, and we have a bearish divergence. The question is: was this an ending diagonal with a sharp decline on the horizon? or...

Asaadx2

We seem to have undergone a double correction which, I hope, has ended as a triangle and we have just broken out of the triangle. See the contracting momentum on RSI and the contracting price action. If this does prove to be a wave 3 of 3 of 3 then I expect impressive fireworks and sexy moves by BTC

Asaadx2

Hey guys, an update on what I feel is happening: Basically I think we finished wave 3 (in blue on my last chart and represented by subwave v in red on this chart) and started wave 4. Wave 4 is a correction. There are several types of corrections: zigzags, flat corrections, irregular corrections, triangular corrections and a combination of all the above. It is...

Asaadx2

Every time BTC hit a bottom of a downtrend that was accompanied by distinctively high volume several times the average and it rallied higher every time. Very high volume at the end of a downtrend (or uptrend) usually marks the exhaustion phase of the trend and a potential trend reversal.